Traders Buy High Volume of International Paper Call Options (NYSE:IP)

International Paper (NYSE:IP) saw some unusual options trading activity on Thursday. Stock traders bought 22,378 call options on the stock. This is an increase of approximately 369% compared to the typical daily volume of 4,770 call options.

Insider Activity at International Paper

In other International Paper news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total transaction of $201,550.00. Following the completion of the sale, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 8,800 shares of company stock valued at $310,438. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

A number of hedge funds and other institutional investors have recently bought and sold shares of IP. Diversified Trust Co boosted its position in shares of International Paper by 51.4% in the 1st quarter. Diversified Trust Co now owns 37,255 shares of the basic materials company’s stock worth $1,454,000 after purchasing an additional 12,646 shares in the last quarter. MCF Advisors LLC increased its position in shares of International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. Register Financial Advisors LLC purchased a new position in International Paper in the 1st quarter worth approximately $73,000. 180 Wealth Advisors LLC boosted its stake in International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after purchasing an additional 318 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in International Paper by 12.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 144,721 shares of the basic materials company’s stock valued at $5,647,000 after purchasing an additional 15,667 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IP shares. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $40.00 price objective on shares of International Paper in a research report on Wednesday. Argus lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average target price of $37.13.

International Paper Stock Up 0.8 %

Shares of IP traded up $0.27 on Thursday, reaching $35.33. The stock had a trading volume of 1,819,604 shares, compared to its average volume of 4,606,771. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.67. International Paper has a 12-month low of $29.00 and a 12-month high of $41.28. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 42.76 and a beta of 0.99. The company has a 50-day simple moving average of $36.72 and a 200-day simple moving average of $35.84.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. Sell-side analysts predict that International Paper will post 1.88 EPS for the current year.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.